Toyota Achieves Record Global Sales and Production, Delays EV

Toyota Motor reported record-high global sales and production for the fiscal year ended March 31, driven by robust demand and the absence of semiconductor supply constraints that had plagued the industry in recent years. 

However, in response to recent scandals, the automaker plans to delay the start of its electric vehicle (EV) production in the U.S. and adjust domestic production schedules to prioritize product safety and quality.

Record Sales and Production: 

Toyota’s parent-only global sales surged 7.3% year-on-year to 10.31 million units, marking the first time the company surpassed the 10 million mark. Production reached a record high of 9.97 million units, representing a 9.2% increase compared to the previous year.

Despite the overall growth, Toyota faced challenges in March, with global sales declining by 2.1% to 897,251 units and production dropping by 10.3% to 807,026 units. Fierce competition in China, the world’s largest auto market, contributed to this decline.

Expansion of EV Sales: 

Toyota witnessed significant global battery EV sales growth, which tripled to 116,654 units in the fiscal year ended March. 

Despite this progress, the company has decided to delay the start of EV production in the U.S., pushing it back to the spring of 2026 from the original plan of 2025.

Focus on Quality and Safety: 

The decision to postpone EV production aligns with Toyota’s commitment to ensuring product safety and quality, particularly in light of recent scandals involving its group firms. 

The automaker plans to proactively address these concerns and implement a “pause” period in its business operations.